IndusInd Bank provides personal loans with competitive interest rates starting from 10.49% per annum. Designed to cater to a variety of financial needs, these loans can be availed up to ₹50 lakh with tenures extending up to 5 years..
The bank emphasises a streamlined digital process for loan approval, ensuring quick disbursal of funds—often within minutes of application. This makes it an attractive option for individuals seeking fast financial solutions.
Schemes | Rate of Interest (p.a.) |
---|---|
Personal loan for education | 10.49% |
Personal loan for medical expenses | 10.49% |
Personal loan for wedding | 10.49% |
Personal loan for home renovation | 10.49% |
Other personal loan schemes | 10.49% |
Note: Interest Rates as of 27 August 2024
IndusInd Bank Personal Loan Interest Rates EMI Calculator
(https://www.livemint.com/loans/indusInd-bank-personal-loan-emi-calculator)
IndusInd Bank Personal Loan Interest Rate vs Other Lenders
Banks | Interest Rate (p.a.) | Processing Fee |
---|---|---|
HDFC Bank | 10.75% p.a. - 24.00% p.a. | Rs.4,999 + GST |
ICICI Bank | 10.85% p.a. - 16.25% p.a. | Up to 2% |
Yes Bank | 10.99% p.a. onwards - 20% p.a. | Up to 2.5% |
Kotak Mahindra Bank | 10.99% and above | Up to 3% |
Axis Bank | 11.25% p.a.- 22% p.a. | Up to 2% of the loan amount |
HSBC Bank | 9.99% p.a. - 16.00% p.a. | Up to 2% |
IDFC First Bank | 10.90% p.a. - 36% p.a. | Up to 3.5% |
Ujjivan Small Finance Bank | 11.49% p.a. - 16.49% p.a. | At the discretion of the bank |
Aditya Birla Capital | 10.99% p.a. -30% p.a. | Up to 3% |
State Bank of India | 11.35% p.a. - 14.50% p.a. | Up to 1.50% |
Karnataka Bank | 10.93% p.a. onwards | At the discretion of the bank |
Bank of Baroda | 11.15% p.a. - 18.20% p.a. | Up to 2% |
Federal Bank | 11.49% p.a. - 14.49% p.a. | Up to 2% |
Bank of India | 10.85% onwards | Up to 2% |
IDBI Bank | 10.55% p.a. - 13.30% p.a. | Contact the bank |
South Indian Bank | 13.1% p.a. - 20.6% p.a. | Up to 2% |
Indian Overseas Bank | 10.85% p.a. - 13.00% p.a. | Up to 0.50% (Above Rs.2.00 lakh up to Rs.150 Crores) |
RBL Bank | 18% p.a. | Up to 2% |
Punjab National Bank | 11.40% p.a. to 17.95% p.a. | Up to 1.00% |
Bank of Maharashtra | 9.75% p.a. to 12.55% p.a. | Up to 1% |
Central Bank of India | 12.00% p.a. - 12.75% p.a. | Up to 1% |
J&K Bank | 9.60% p.a. - 9.70% p.a. | Up to 1% of the loan amount subject to a maximum of Rs.10,000 |
(Interest Rates as of 03, September 2024)
Please note that GST will be added to the applicable processing fee.
IndusInd Bank Personal Loan Fees and Charges
Processing fees | Up to 3.5% of the sanctioned loan amount |
Prepayment fees | 4.00% of the principal remaining after 12 estimated monthly instalments |
Loan cancellation charges | ₹1,000 per event |
Payment dishonour charges | ₹450 per instance |
Loan rescheduling charges | ₹1,000 per event |
Penal charges | ₹150 per EMI delay beyond 5 days |
ECS/Cheques/SI swapping charges | ₹500 per event |
Stamp duty | As per the laws |
Legal charges | As per actuals |
Duplicate no dues certificate | ₹250 per event |
To determine the interest cost for a ₹5 lakh personal loan, use the IndusInd Bank Personal Loan EMI Calculator. Input the loan amount, tenure, and interest rate to get the interest cost and EMI details.
IndusInd Bank hasn’t provided specific guidelines for reducing interest rates on existing loans. Borrowers should contact the bank directly. Alternatively, consider a personal loan balance transfer to another lender with lower rates.
IndusInd Bank offers personal loans starting at 10.49% per annum. The exact rate may vary based on factors like credit score, occupation, and employer details.
IndusInd Bank provides personal loans with fixed interest rates, ensuring consistent interest costs throughout the loan term.